FTSE 100, DAX and Dow likely to push higher before long
FTSE 100, DAX and Dow look primed for another push higher after recent consolidation/retracement.
FTSE 100 pullback likely to bring buying opportunity
The FTSE 100 has been on the back foot since Thursday’s peak, with the index seemingly retracing the two-week rally seen from the 6615 swing-low. With that recent peak of 6957 representing the 2021 high from January, this pullback comes from a notable level of resistance. Nevertheless, this move lower does appear to represent a retracement rather than a reversal, with the bulls likely to come back into play before long. With that in mind, keep an eye out for whether the trendline support holds up. Otherwise, a deeper retracement looks to be coming into play. The index is certainly rolling over in early trade, and thus a decline through trendline and 6853 would point towards a potential short-term breakdown from here. However, the wider uptrend highlights how this current pullback will likely provide a good buying opportunity before long, with a break below 6615 required to negate that view.
DAX gradually gaining ground as it falls into trendline support
The DAX has been on the rise over the course of the past week, with initial consolidation turning into a very shallow uptrend. Nevertheless, with price having dropped back into trendline support, there is a good chance we continue this recent trend with another move higher from here. A break below the 15214 level would negate the short-term uptrend.
Dow Jones appears to be preparing for another push higher
The Dow has been consolidating over the beginning of the week, with the index pushing up in yesterday’s peak of 33784 once again this morning. Between Friday and Monday’s highs we have a key resistance zone of 33784-33805, which would need to be overcome to bring that new buy signal for the index. However, with the recent retracement being so shallow in nature, such a break could bring a good buying opportunity within a clear long-term uptrend.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
